4.7 - Financial Management

The Accounting Office has responsibility for fiscal matters regarding awards.

The PI/PD is responsible for managing the budget and expending it in accordance with sponsor and university regulations on allowable, allocable, and attributable expenses related to the project, as indicated in the approved budget. Some sponsors require approval of any divergence from budget categories or items.

General guidelines for expending sponsored program funds are as follows:

  • Costs must be allocable, bearing a direct relationship to the activities of the program, not to the general needs of the department or university.
  • Costs must be reasonable, reflecting conscientious and prudent financial decision-making.
  • Costs must be consistently treated, consistent with the normal costs standards of the university and not exceeding normal limits of similar charges that are not grant-supported.
  • Costs must adhere to sponsor-stated restrictions, recognizing and respecting any restrictions on use of funds stipulated by the sponsor.